FINANCIAL Intelligence Center (FIC) Director General Francis Kapalu says the center has received almost 700 reports related to illicit financial flows involving over US$3 billion. Meanwhile, Kapalu says FIC is undergoing a review of its law to try and strengthen the financial penalties for entities that do not comply with the FIC Act. Speaking when he featured on CTPD’s “The People’s Space” programme, Thursday, Kapalu said the last 12 months did not look good particularly in the area of financial illicit flows. “What we have seen over the last 12 months doesn’t look good particularly in the area of financial illicit flows. We have had almost 700 reports involving over about $3 billion worth of financial illicit flows. That is...